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HomeMy WebLinkAbout1983-401 " , ., . RESOLUTION NO. 83-401 RESOLUTION OF THE MAYOR ANO COMMON COUNCIL OF THE CITY OF SAN BERNAROINO FINDING THAT AN APPLICATION FOR INDUSTRIAL DEVELOPMENT BOND FINANCING HAS BEEN SUBMITTED PURSUANT TO THE PROVISIONS OF ORDINANCE NO. 3815 OF THE CITY FOR A CERTAIN PROJECT, FINDING THAT SAID APPLICATION COMPLIES WITH THE PROVISIONS AND REQUIREMENTS OF SAID ORDINANCE NO. 3815; APPROVING SAID APPLICATION AND THE PROJECT TO WHICH IT REFERS; DIRECTING THE PREPARATION OF A PROJECT AGREEMENT, A RESOLUTION OF ISSUANCE AND SUCH OTHER LEGAL DOCUMENTS AS MAY BE NECESSARY TO CARRY OUT SAID PROJECT AND PROVIDE FOR THE ISSUANCE OF INDUSTRIAL DEVELOPMENT REVENUE BONDS THEREFOR; AND MAKING CERTAIN OTHER FINDINGS AND DETERMINATIONS IN CONNECTION THEREWITH. (KANEY FOODS INCORPORATED) WHEREAS, the City of San Bernardino ("City" herein) is a "home rule city" duly organized and existing under and pursuant to a Charter adopted under the provisions of the Constitution of the State of California; and WHEREAS, pursuant to its home rule powers, the City duly and regularly enacted Ordinance No. 3815 ("Ordinance" herein) to finance various types of projects, as defined in the Ordinance, and to issue its special revenue bonds for the purpose of paying the cost of financing such projects, and has amended the same from time to time; and WHEREAS, said Ordinance No. 3815, as amended, is intended to finance the development of industry and commerce and to thereby broaden the employment opportunities for residents of the City and its tax and revenue base; and WHEREAS, there has been presented to this Mayor and Common Council an Application by KANEY FOODS INCORPORATED , requesting the issuance of industrial development bonds in the principal amount of, not to exceed, $3~OO,Ooo.. for the purpose of financing, on behalf of the Applicant, -1- , a certain Project to wit: To finance the purchase of land and construct a distribution warehouse of approximately 30,000 sq.ft. which will house office space freezer space, refrigerated space & space for dry storage - Phase I. The purpose ' of Phasel 1 will be to expand refrigeration space by approximately 10,000 sq. ft., to be located at the northwest corner of Tippecanoe and Gould Streets, Southeast Industrial Park Project Area, including, without limitation, equipment and off-street parking for motor vehicles and all off-site and on-site improvements necessary therefor and appurtenances and appurtenant work ("the Project"). . NOW, THEREFORE, IT IS HEREBY RESOLVED, DETERMINED AND ORDERED BY THE MAYOR AND COMMON COUNCIL OF THE CITY OF SAN BERNARDIND AS FOLLOWS: SECTION 1. That the recitals set forth hereinabove are true and correct in all respects. SECTION 2. The City of San Bernardino, California, is a municipal corporation duly created, established and authorized to transact business and exercise its powers, all under and pursuant to the Constitution and laws of the State of California, and the City Charter of the City, and the powers of the City include the power to issue bonds for any of its corporate purposes. SECTION 3. Pursuant to the Charter of the City and Ordinance No. 3815, as amended, of the City, the City is legally authorized to issue special revenue bonds for the permanent financing as described in the recitals hereof. SECTION 4. legally authorized the City. This body constitutes the governing body of the City and is to provide for the issuance of such special revenue bonds by SECTION 5. The Project referred to in the recitals hereof constitutes a project which may be financed by the issuance of such special revenue bonds by the City and located within the jurisdiction of the City. SECTION 6. The Application referred to in the recitals hereof complies ~th the provisions and requirements of said Ordinance No. 3815, as amended, and the Project involved in such application is hereby approved and the provisions of Subsection (d) of Section 10 and Subsection (a) of Section 11 of said Ordinance No. 3815 shall not apply. -2- '. SECTION 7. The City hereby declares its intention to exercise the luthority referred to in Section 3 hereof by issuing bonds of the City in such amounts as will be adequate to implement the City finlncing of the Project. SECTION 8. The bonds shall be payable from the revenues described in said Ordinance 3815, IS lmended. SECTION 9. The bonds shall be and are special obligations of the City, and, subject to the right of the City to apply monies as provided in the applicable laws, are secured by such revenues as are specified in the proceedings for the issuance of such bonds and funds and accounts to be held by the trustee or fiscal agent, and are payable as to principal, redemption price, if any, and interest from the revenues of the City as therein described. The bonds are not a debt of the City, the State of California, or any of its political sub- divisions, and neither the City, the State, nor Iny of its political subdivisions is liable thereon, nor, in any event, shall the bonds be payable out of any funds or properties other than all or any part of the revenues, mortgage loans, and funds and accounts as in this Resolution set forth. The bonds do not constitute an indebtedness within the meaning of any constitutional or statutory debt limitation or restriction. Neither the persons serving as the Mayor and Common Council nor any persons executing the bonds shall be liable personally on the bonds or subject to any personal liability or accountability by reason of the issuance thereof. SECTION 10. The details of such bonds, including the establishing of the aggregate face amount of such obligations, shall be authorized by indenture. resolution or resolutions of the City at a meeting or meetings to be held for such purpose. The City Staff, Bond Counsel, Underwriters, the Applicants and the Agents and Representatives of same are hereby authorized and directed to prepare or cause to be prepared the necessary legal documents, including the Project Agreements, Resolutions of Issuance, and such other documents IS may be necessary to effect said Project and the issuance of Industrial Development Revenue Bonds therefor, and to present same to said Mayor and Common Council. The Mayor of the -3- '. City is hereby authorized and directed to coordinate the efforts of all concerned relating to the issuance and sale of the bonds, and the City staff, consultants, legal counsel to the City and Bond Counsel are hereby directed to take such steps as shall be appropriate to implement such sale and delivery of the bonds, including working with persons who may acquire vested rights as the result of such actions. SECTION 11. This Resolution constitutes a proper exercise of the powers of this Mayor and Common Council and conforms to State and local legal require- ments relating to the issuance of such special revenue bonds and other bonds or debt obligations by a charter city in this State. SECTION 12. It is intended that this Resolution shall constitute such "official action" toward the issuance of the bonds within the meaning of the United States Treasury Regulations, the United States Tax Laws, and any legisla- tion now or hereafter pending in the Congress of the United States which may require official action in order for the bonds to be exempt from Federal income taxation. SECTION 13. At the closing of the financing, there shall be paid to the City the fee set forth in Resolution No. 81-108, as amended by Resolution No. 81-410, of the Mayor and Common Council, adopted September 24,1981. -4- . . . " I HEREBY CERTIFY that the foregoing Resolution was duly adopted by the Mayor and Conmon Council of the City of San Bernardino at a reqular Meeti ng thereof. hel d on the 21st day of November . 1981. by the following vote. to wit: AYES: COUNCIL MEMBERS: Castaneda, Reilly. Hernandez, Marks, Quiel, Strickler NAYS: ABSENT: None Council ~ember Fr~z;~r Am/~!/~~ tIn CLERK The foregoing Resolution is hereby approved this~P~ day of November . 1981. APPRO S TO FORM: 10 -5-